Last update: Oct 2026

Cost of Living Comparison Between Akranes and Selfoss

For one person, living is cheaper in Selfoss: $3,416 a month against $3,713 in Akranes, rent and utilities included – about $3,600 less a year. The total is higher in Akranes despite lower rent and utilities.

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Cost of Living Index in Akranes
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Akranes Living Index

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Akranes

🇮🇸 Iceland

$3,713

/mo nomad

Selfoss

🇮🇸 Iceland

$3,416

/mo nomad

Monthly Cost of Living

How much you'll spend in Akranes and in Selfoss

Real prices from locals and on-the-ground checks – rent, groceries, transit and the daily extras. Here's what a month in Akranes and in Selfoss actually costs, broken down by who's living it.

Monthly costs for one person with rent: $3,713 in Akranes versus $3,416 in Selfoss.

Akranes $3,713
Selfoss $3,416

Estimated couple costs with rent: $5,859 in Akranes versus $2,439 in Selfoss.

Akranes $5,859
Selfoss $2,439

Monthly costs for a family of three with rent: $8,006 in Akranes versus $1,461 in Selfoss.

Akranes $8,006
Selfoss $1,461

Living in Akranes is roughly 9% more expensive than in Selfoss, and outside of rent the biggest gap is in eating out.

Both cities are pricier than the global median: Akranes 173% above, Selfoss 151% above.

Meal at Budget Restaurant

$31.70 ISK 3,862

Three-Course Dinner for Two, Mid-Range

$123 ISK 15.0K

Fast Food Meal (McDonalds, etc)

$26.72 ISK 3,255

$20.39 ISK 2,484

31.04%

Cappuccino

$6.01 ISK 733

Coke/Pepsi/Fanta/Sprite (0.33 liter bottle)

$3.19 ISK 389

Water (0.33 liter bottle)

$2.51 ISK 306

Local Beer (0.5 liter draught)

$10.69 ISK 1,302

$12.18 ISK 1,484

-12.23%

Imported Beer (0.33 liter bottle)

$8.10 ISK 987

Milk (1 liter)

$2.10 ISK 255

$1.77 ISK 216

18.64%

White Bread (500g)

$2.04 ISK 248

$7.65 ISK 932

-73.33%

Rice (white) (1kg)

$3.71 ISK 452

$4.55 ISK 554

-18.46%

Eggs

$6.26 ISK 763

$6.49 ISK 790

-3.54%

Local Cheese (1kg)

$20.35 ISK 2,479

$17.25 ISK 2,101

17.97%

Chicken Fillets (1kg)

$24.72 ISK 3,012

$21.56 ISK 2,627

14.66%

Beef Round Steak (1kg)

$42.16 ISK 5,137

$33.60 ISK 4,093

25.48%

Apples (1kg)

$3.30 ISK 402

$2.83 ISK 344

16.61%

Banana (1kg)

$2.72 ISK 331

$2.70 ISK 329

0.74%

Oranges (1kg)

$3.23 ISK 394

$2.72 ISK 331

18.75%

Tomato (1kg)

$4.89 ISK 596

$7.25 ISK 884

-32.55%

Potato (1kg)

$3.82 ISK 465

$3.24 ISK 395

17.90%

Onion (1kg)

$1.71 ISK 208

$2.07 ISK 253

-17.39%

Lettuce (1 head)

$3.65 ISK 445

$3.70 ISK 450

-1.35%

Water (1.5 liter bottle)

$1.81 ISK 221

$1.34 ISK 164

35.07%

Cigarettes 20 Pack (Marlboro, Camel)

$13.90 ISK 1,693

$15.61 ISK 1,902

-10.95%

Wine (Bottle)

$23.57 ISK 2,872

Local Beer (0.5 liter bottle)

$2.88 ISK 351

Imported Beer (0.33 liter bottle)

$2.07 ISK 252

$1.15 ISK 140

80.00%

One-way Ticket (Public Transport)

$3.61 ISK 440

Public Transport Monthly Pass (Regular Price)

$72.3 ISK 8,809

Taxi Start (Normal Tariff)

$6.55 ISK 798

Taxi (Normal Tariff) (1km)

$1.25 ISK 153

Taxi 1hour Waiting (Normal Tariff)

$81.9 ISK 9,980

Gasoline (1 liter)

$2.08 ISK 253

Midsize Hatchback 1.4l (Volkswagen Golf, Toyota Prius, Honda Civic, etc)

$67.8K ISK 8.3M

Compact Sedan 1.6l (Toyota Corolla, Mazda3, Kia K4, Hyundai Elantra, etc)

$54.6K ISK 6.6M

Utilities for 2 People in 2-bedroom Apartment (Heating, Electricity, Gas, Water, Garbage) (85m2)

$96.4 ISK 11.7K

SIM Card Monthly Plan (Calls and 10GB+ Data)

$33.29 ISK 4,056

Internet (50+ Mbps, Unlimited Data)

$85.0 ISK 10.4K

Gym Membership (Monthly)

$104 ISK 12.7K

Cinema Ticket

$19.29 ISK 2,351

Preschool or Kindergarten, Full Day, Private, 1 Child (Monthly)

$1,205 ISK 146.8K

International Primary School, 1 Child (Yearly)

$26.1K ISK 3.2M

Jeans (Levis 501 Or Similar)

$150 ISK 18.2K

Summer Dress (H&M, Zara, etc)

$67.1 ISK 8,176

Sport Shoes (Adidas, Nike)

$179 ISK 21.8K

Men's Leather Business Shoes

$246 ISK 29.9K

1-bedroom Apartment, City Center (Monthly)

$3,064 ISK 373.3K

1-bedroom Apartment, Outside City Center (Monthly)

$1,889 ISK 230.2K

$2,771 ISK 337.6K

-31.82%

3-bedroom Apartment, City Center (Monthly)

$5,013 ISK 610.8K

3-bedroom Apartment, Outside City Center (Monthly)

$3,654 ISK 445.2K

Average Monthly Net Salary (After Tax)

$5,704 ISK 695.0K

20-Year Fixed Mortgage Interest Rate (Annual %)

8.81

CityCost data is based on AI and user input – minor inaccuracies may occur.

Last update for Akranes: October 27, 2026

Last update for Selfoss: October 25, 2026

Monthly budget structure

Share of the monthly basket for one person, rent included.

Accommodation & Living

Akranes

$1.9K 50.9%

Selfoss

–

Groceries & Markets

Akranes

$579 15.6%

Selfoss

–

Eating Out

Akranes

$498 13.4%

Selfoss

–

Clothing & Footwear

Akranes

$289 7.8%

Selfoss

–

Monthly Utilities & Internet

Akranes

$215 5.8%

Selfoss

–

Sport & Entertainment

Akranes

$143 3.9%

Selfoss

–

Getting Around

Akranes

$100 2.7%

Selfoss

–

Good to know

🇮🇸 Akranes

🇮🇸 Selfoss

🕒 Local time

23:45 11:45 PM

Same time as Akranes

🌤 Weather

👥 Population

7,800

9,000

💱 Currency

Icelandic Króna ISK kr

📈 Exchange rate

1,000 ISK = 8.21 USD

1,000 ISK = 7.37 EUR

1,000 ISK = 8.21 USD

1,000 ISK = 7.37 EUR

Exchange rates and currency converter

On the map

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Between locations

Akranes Selfoss 67 km

From you

Akranes
Selfoss

Distances are measured in a straight line. Your location is detected approximately.

City Median Internet Speeds Comparison (Updated April 2026)

The chart highlights the Precision Threshold for mobile and fixed broadband internet speeds, updated quarterly.

Digital Nomad Cost of Living Index

Akranes vs Selfoss: Cost of Living - Frequently Asked Questions

Selfoss wins on cost – living expenses run 8% lower than in Akranes. Housing and daily spending are where you’ll feel the difference most, making Selfoss the obvious pick if budget is a priority.

You’d need roughly $5,569 in Akranes and $5,124 in Selfoss to live well. The gap comes down to housing and overall price levels. Both cities are liveable on less, but these numbers represent actual comfort.

Supermarket bills run roughly 11% higher in Akranes. For households that cook at home regularly, that difference adds up over a month.

All in, you’ll spend $3,713 per month in Akranes versus $3,416 in Selfoss – Selfoss is about 8% cheaper, which adds up to real savings over time.

Both cities are expensive relative to $3,000. Selfoss is the more realistic option, but even there you’ll need to be disciplined with housing, food, and fun money.

Safety-wise, Akranes and Selfoss are both considered safe, so it’s unlikely to be the deciding factor between them.